Seven in 10 Britons fear the upcoming Autumn Budget could add further pressure to their household finances, according to research that also reveals a surge in shoppers planning to rely on Black Friday deals.
A study of 2,000 adults found that 73% are concerned about the Budget’s impact on their finances over the coming months, including 27% who are very concerned. The uncertainty is already making people more careful with spending, with 54% becoming more cautious about major purchases.
Consumers Turn More Price-Conscious
Six in 10 (60%) feel more price-conscious about what they buy than they did 12 months ago. The study, conducted by Currys, found that shoppers are looking to get the most for their money, with 61% comparing prices between retailers when planning a major purchase.
Others are delaying replacements altogether: 28% are repairing what they already own for longer, while 22% will opt for a cheaper alternative.
Black Friday Seen as Key Saving Opportunity
With Black Friday approaching, two thirds (66%) are likely to wait for a sale rather than pay full price for a major technology or appliance purchase. The research shows 43% have previously deliberately timed or delayed a purchase to get it during Black Friday or another major sales event, and a further 36% would consider doing so.
Ed Connolly, from Currys, said: “Uncertainty around household finances is making people think more carefully about when and where they spend, particularly on bigger purchases.” He added that shoppers are “doing their homework, comparing prices and becoming increasingly savvy about what represents a genuinely good deal.”
Shoppers Plan Spending and Verify Deals
Those waiting have an average of £528 earmarked to spend, with Christmas presents (41%) topping their lists, followed by clothing and fashion (34%) and small kitchen appliances (20%).
The OnePoll.com study found that 46% of all respondents always or often check what a product costs before Black Friday to work out whether a deal is genuine, while a further 22% sometimes do so. Among those who check, seeing a product’s price history was the top factor that would convince them an offer was genuinely a bargain (24%), followed by seeing the previous selling price clearly (14%). Just 6% said the size of the percentage discount matters most; instead, shoppers place greater importance on knowing it is a product they genuinely need or want (18%), the final price they will actually pay (15%), and getting a better-quality product for a lower price (14%).
